Making Cents: Elderly at risk of financial abuse during lockdown

Old woman counting coins from her wallet

Recent research from the Banking & Payments Federation Ireland (BPFI) highlighted concerns about vulnerable adults, including the elderly, who needed help to manage or access their money during the COVID lockdown. The report suggested that a significant portion of those who gave another person access did not take control back after the restrictions eased. 

"People should of course get the help of trusted people if necessary as a short-term measure," BPFI Head of Sustainable Banking, Louise O’Mahony said. “However, keeping ongoing control of your own finances remains the best ongoing way to safeguard against financial abuse.”